Roku (NASDAQ:ROKU) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note released on Friday, Marketbeat.com reports. The brokerage currently has a $75.00 target price on the stock.

A number of other research analysts have also recently issued reports on the stock. Susquehanna dropped their target price on shares of Roku from $110.00 to $80.00 and set a positive rating for the company in a report on Monday, April 29th. Wells Fargo & Company increased their price target on shares of Roku from $45.00 to $52.00 and gave the company an underweight rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered their price target on shares of Roku from $90.00 to $80.00 and set an overweight rating on the stock in a research report on Friday. Needham & Company LLC reiterated a buy rating and issued a $100.00 price target on shares of Roku in a research report on Thursday, June 20th. Finally, Jefferies Financial Group assumed coverage on shares of Roku in a research report on Thursday, May 2nd. They issued an underperform rating and a $50.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $79.71.

Roku Stock Down 2.8 %

NASDAQ ROKU opened at $51.67 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of -12.29 and a beta of 1.96. Roku has a 52-week low of $48.33 and a 52-week high of $108.84. The firm has a 50-day moving average price of $58.43 and a 200 day moving average price of $65.01.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.17%. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same period in the prior year, the company posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts expect that Roku will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mai Fyfield sold 650 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the sale, the director now directly owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The disclosure for this sale can be found here. Insiders sold 27,075 shares of company stock valued at $1,556,005 over the last quarter. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. raised its stake in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the period. Norges Bank bought a new position in Roku in the 4th quarter worth about $90,386,000. Quadrature Capital Ltd bought a new position in Roku in the 4th quarter worth about $35,856,000. Finally, Vanguard Group Inc. increased its stake in Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after acquiring an additional 380,409 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.